Team selected to redevelop Troy’s One Monument Square

TROY>> One Monument Square, a prime location in the heart of Troy’s downtown and along the Hudson River waterfront, has been spoken for.

Troy city officials announced Monday that Kirchoff Companies will be leading the redevelopment of One Monument Square.

Mayor Lou Rosamilia called the new One Monument Square “a one-of-a-kind destination location”

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The $27 million spent on the project will transform the Troy waterfront with enhancements like luxury apartments, retail stores, and parking garages. The plans also include creating a permanent home for the Troy Waterfront Farmers Market. A park will allow public access to the waterfront.

In addition to the Kirchhoff Companies and Kirchhoff-Consigli Construction, other members of the development team include Sequence Development, CSArch, the LA Group, Ryan-Biggs and Gramercy Communications.

Head of CS Arch’s design team Tina Ceas said the project’s creators kept in mind ideals of preservation, extension and connection. She said the buildings will exist alongside rather than overpower the city’s historic architecture. The two distinct buildings will serve as part of a “plaza full of life and activity all year-round.”

The first phase, known as Monument North, is expected to be completed in 2015. The construction of Monument South will start directly thereafter.

Monument South brings the possibility of a new Troy City Hall location in a separate building. This opportunity will soon be under deliberation by a special committee. The first floor of the building would be used as retail space.

Rosamilia said the committee will review the feasibility of relocating City Hall to the newly developed space. The former City Hall once stood on this waterfront location before the building was demolished and the offices were moved to leased space on Sixth Avenue.

If moving City Hall to this location doesn’t pan out, the back-up plan for Phase Two is to build a private, mixed-use building that would increase the development’s overall value with office space, apartments, and condominiums.

Jeffrey Buell, owner of Sequence Development, said he previously thought the land was too valuable to place City Hall. The development team as a whole is neutral on it, he said. Going forward in the decision-making process, “We very much believe in the market of Troy and we will work closely with the city to do what is beneficial.”

Rosamilia said that based on the money available through grants, no cash outlay should be necessary for the city at this time.

Buell added that the Troy Waterfront Farmers Market was chosen as the anchor for the project.

President of the Troy Farmer’s Market board Seth Jacobs said that they plan on part ownership of the facility, at the least. “We’re hoping that our priorities are right in line with a lot of state and federal priorities right now,” he said.

The heated indoor space will room for outdoor expansion opens opportunities for the market to operate more often and hold special events. Vendors could possible open permanent store stores or a co-op. “Things we haven’t even thought of yet,” Jacobs said. The board will be traveling to other cities with waterfront farmers markets for new ideas.

One thing is certain, “This is going to be a very beautiful site,” Jacobs said.

Overall, the new Troy destination will “encourage people to come here on a daily basis,” Buell said.

“I can’t think of a better thing that could happen,” said Susan Dunckel, owner of Sue’s Sweets on River Street. Dunckel has seen similar projects thrive in other cities. She said that a project of this nature only seemed appropriate on Troy’s waterfront.

One local state representative strongly agrees. State Senator Neil Breslin, D-Albany, called the new public-private partnership plans “steroids for success.”